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154Re: [lawyersclubindia] Story of ICAI - Members Urgent Comment Invited

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  • dipak Shah
    Jan 4, 2010
      Let me begin with a case of RatnamanI Engineering Limited a case of dividend paid out of capital. Where all facts are hided since l;ong by some tacticks at all corners and by all Directors and Auditors since then .
      Nothing has happened in last 15 years . This is even by Registrar of Companies Level also. They sat in lap of Company. What replies given by the company forwarded to me . But basic question is not looked upon at any time!!! Basic of ROC  office known to all.
      C A Shah D J

      On Sat, Jan 2, 2010 at 4:56 PM, Gulab Singh <gulab.a.singh@...> wrote:

      Dear All,
      Before I comment on the said mail, I wish to take an opinion from the other Hon'ble members as to what should be the reply to the said enclosed email which was originally sent to over 25 yahoo groups consisting of MBA's, Lawyers and others...
      Warm Regards,
      Gulab A. Singh
      Cell: +91 98201 59201
      On Sat, Jan 2, 2010 at 4:43 PM, Chirag Sawant <rcs2353_poi@...> wrote:

      Dear All,

      I wish to bring your kind attention towards the true story of the Institute of Chartered Accountants of India, a statutory body of Govt of India and wish you make you aware of how ethics and conducts are practiced and breached at the ICAI.

      In ICAI, CA students join the course with a hope that some formal classes will be conducted and they will get some knowledge transfer from some professors of high ethical values but the scene is reversed. The students are compelled to do articleship in a CA firm right from the beginning where they are given the training of how to manipulate the data and hide the facts.

      The students are 'forced' and 'compelled' to do wrong and unethical things like making FAKE balance sheets, profit & loss A/c., FAKE vouchers, FAKE entries, in the books of accounts, preparing FAKE audit reports and annual reports and filing FAKE income/sales tax returns Etc. This is not the end of the story and it is just a beginning of nurturing and producing a white collar criminal. It is easy to fight with the terrorism across the borders but difficult to fight with these internal criminals. As an output of this CA articleship in the so called CA firms, a trained and sophisticated white collar criminal is produced who is 'licensed' to do the wrong and unethical things by the Institute of Chartered Accountants of India. The famous Satyam scam is just a small example of the above.

      Being a sincere student of ICAI for a decade, I have concrete evidences of all such mal-practices along with proposed effective root cause and solutions for correcting our system and a formal application about it has already been filed at the Ministry of HRD, Govt of India and to the President of India.

      I seek your kind and favourable support to remove the corruption and make our nation great. Kindly join me in my effort by subscribing a mailing list as below:

      To know more, please write me at
      rcs2353@... and rcs2353_poi@....


      Yours Sincerely,

      Mobile No.:- +91 9898345389.

      3rd Floor, Shelar Building,
      Above CANARA Bank, Shelar Wadi,
      Gokhale Road,

      And Friends From,

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